Venture firm 83North raises $300 million for new tech fund

83North, the former supporter of catering company Just Eat and Swedish payment firm iZettle, acquired by Paypal, said the latest round of fundraising gets its assets under management at $ 1.1 billion.

London-based venture capital firm 83North said Monday it had raised $ 300m for a new fund aimed at consumer technology firms and European and Israeli companies.

Without giving details, the new fund, the fifth of 83North, was overvalued, the company said in a statement.

“We continue to invest in all stages where we work hand in hand with founding teams to create companies and help them scale globally,” said 83rd partner Laurel Bowden.

She said recent firms she has invested in include cyber security firm Siemplify, founded in Tel Aviv and now operating in New York, and ecommerce firm Mirakl, founded in France and now also in Boston.

Most of the investors in 83North’s funds are US-based assets, family offices and pension funds. Its first fund was set up in 2006.

Since then, it has invested in 70 companies and made 15 exits, three of which were in so-called ‘unicorns’, companies worth more than $ 1 billion./Investing.com

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